TORONTO – Rogers Communications plans to buy up 1.3 million of its outstanding Class B non-voting shares for cancellation in a private purchase.
The aggregate purchase price is expected to be approximately $35.21 million for approximately one quarter of the Class B shares outstanding at March 31, 2009.
The private agreement between Rogers and an arm’s-length third party seller was made under an issuer bid exemption order issued by the Ontario Securities Commission.
In the twelve months ended April 30, 2009, Rogers repurchased an aggregate 4 million Class B shares pursuant to issuer bid exemption orders issued by the Ontario Securities Commission, and repurchased an aggregate 77,400 Class B shares pursuant to a prior normal course issuer bid. All of these Class B shares were repurchased during 2008.
